All Forum Posts by: Stephanie Walker

Is a 1031 exchange an option? Personally, I’d hate to lose the interest rate but if the property is doing more harm than good, maybe it’s just not the right one for you and your owner style.

I wear a lot of hats in this space. I’m a REALTOR, Property Manager, firm owner, and an investor myself. Not in KC though.

I’m happy to take a look and give you my two cents!

Hi Vasko! We have a call set up soon but wanted to provide some feedback here too. There are a lot of options to explore in the Charlotte market. Since you’re local, I highly suggest taking a drive down to areas where there are currently multi family options. There really aren’t a lot in this market and the locations are pretty specific. This should help open your eyes to what’s realistic here when it comes to multifamily. I love the concept of it but I find it difficult to execute here. When I have a client that calls me and is adamant about multifamily, I actually refer them to an agent I know in OH!

Flips/BRRRs work here pretty well. I like to see multiple exit strategies but that isn’t difficult in this area. As long as you have your own boots on the ground and/or a project manager to oversee the flip, you should be just fine. Your team is going to be the most important factor to save you both time and money.

Talk soon!

SFH

Personally, we only buy turn key new construction for our investment properties. It’s my preferred method - no surprises, warranties for everything, etc.

As for our clients, I’d say about 90% of them are out of state and highly prefer turn key as well. 

The small group of clients that opt for BRRR method are typically more experienced and have had at least 1-2 BRRRs under their belt. The most difficult challenge with an out of state BRRR is finding a team you can trust to follow through.

I'm not a lender but most of our clients opt to use a conventional loan whenever possible. DSCR is a great option if you're tapped out with DTI but the rate with a DSCR is higher and can eat up your cash flow.

 Sarah Donahoe and her team are a DREAM to work with. I don’t know that she covers that area but she will surely have someone who does! 310-428-2998. Let her know I sent you!

I do like the Simponville area! 

I would focus less on the interest rate % and more on whether or not the monthly payments are doable for you. In order to refinance (aside from the rate) to a conventional or FHA product, what do you need to do? Do you need another year of tax returns? Another two years of returns?

Rates by itself would never deter me from a purchase, whether it's an investment property or personal purchase. It would simply be whether or not the monthly payment is doable and realistic and if the house fits my needs.

I'm going to go against the grain here. I'm a REALTOR, Property Manager, and investor in NC and SC. I am 100% biased and fully believe that if you are seeking a bit of cash flow and fast equity, Charlotte, NC, Greenville/Spartanburg, SC and Columbia, SC are the way to go. Because I know my markets well and have first hand experience in the cash flow and equity. I see it every day.

HOWEVER, if I were looking out of state for investments, I would not be looking in Ohio right now. My husband is from Ohio. I was super excited two years ago when he took me to get my eyes on properties I'd been watching and I was gravely disappointed. Those same properties are still worth about the same as they were when I looked at them 2 years ago. I do plan on purchasing there at some point - in maybe 2-3 years. But I don't think I'm "missing the bus" on not purchasing now.

With steady and proven markets like Charlotte, I know that if I don't purchase everything I can now, I may not be able to afford an investment property here in the near future.